Dhruv Rathee and his promotion of “the world’s first regulated” cryptocurrency
Recently, Dhruv Rathee made a video on The Business Model of Bollywood. And if you are someone like me, you must have seen it already OR you can watch it now.
While the information shared about the Bollywood business model was very interesting, I was shocked to see him promote a cryptocurrency called PNPcoin with a tag “world’s first regulated cryptocurrency”. I will talk more about the PNPcoin later.
But it was sad and shocking to see an extremely talented and knowledgeable person like Dhruv Rathee promoting a random cryptocurrency as “the world’s first regulated cryptocurrency”.
There are 2 underlying flaws in this:
- The world’s most advanced nations in financial markets are still in process of creating a regulation framework. So this crypto cannot be world’s first regulated one.
- 2. Regulation of a financial and technological instrument is a local phenomena. Something that is regulated in one part of the world is mostly regulated in a different way in another part of the world.
So the statement made by the crypto company and Dhruv Rathee is not only flawed but also unethical and deliberate — specially when you consider the reasoning power of Dhruv Rathee in his other great videos, he surely must know these 2 points. But still, he took money to promote this.
FYI. someone like Dhruv Rathee takes around INR 15,00,000 to 30,00,000 for promotions of crypto on his channel. Interestingly, he talked about ethical advertisements by celebs in his Pan Masala Mafia video in November 2021. This promotion of shitcoin crypto hurts me even more because I consider him a good citizen and an ethical person who talks sense on YouTube.
What is PNP Coin?
Frankly, I am not sure. They do not have a CoinMarketCap page or a CoinGecko page — something that even the most D-grade projects in crypto have. PNP Coin website itself looks like a scam and does not have a lot of information about the regulations it follows.
The user is asked to signup before any valuable information about the regulation is shared
But when you signup and login, the platform still looks very shady — to put things lightly.
In fact, this scam coin has been promoted by The Times of India, Money Control, The Economic Times, Mint, Zee Business etc. Its shocking!
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